Universal Health Services Cuts Annual Guidance - Read Why - Universal Health Servs (NYSE:UHS)

Universal Health Services Inc UHS said that due to a significant shortfall in operating results experienced during April and May, the company is revising its forecast for FY22.
The company forecasts Q2 adjusted EPS of $2.05 - $2.15, lower than the consensus of $2.79.
During April and May, acute care hospitals experienced a significant decline in COVID-related patients compared to Q1 2022, which was not offset by an equivalent increase in non-COVID-related patients.
During April and May, patient volumes, revenues, and income generated at behavioral health care facilities were also below expectations.
For FY22, Universal Health Services forecasts sales of approximately $13.235 billion - $13.371 billion, down 1.4% - 2.4% from the original guidance below the consensus of $13.49 billion.
The company expects adjusted EBITDA of $1.635 billion - $1.712 billion, compared to the prior guidance of $1.830 billion - $1.927 billion.
It estimates an adjusted EPS of $9.60 - $10.40, down from the previous outlook of $11.90 - $12.90 and below the consensus of $11.69.
Price Action: UHS shares are down 5.35% at $101.50 during the premarket session on the last check Thursday.